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Thursday, June 23, 2016

MIAMI, FL, June 23, 2016 – Atlantic | Pacific Companies (A|P) and Blue
Arch Advisors announced today the closing of their co-sponsored fund, Blue
Atlantic Partners, which will focus on investing in existing multifamily
communities in the Southeast and Southwest U.S.

The fund closed with $120
million of equity capital commitments which together with anticipated leverage
is expected to have buying power of over $350 million. Investors in the fund
include institutions and high net worth individuals from the U.S. and overseas.

“We received commitments
from partners who were looking for an operating partner in the multifamily
space with long and successful track record of property management and long
term value creation" said Greg
Ward, Managing Partner with the fund from A|P.

The fund's strategy will
be to purchase existing multifamily communities that can benefit from A|P’s
property management expertise and value add/renovation program. The fund's
target locations are affluent suburbs of major cities in the Southeast and
Southwest U.S.

Gil Hermon

"We are grateful for
the support from our investors and very excited with our pipeline of investment
opportunities," said Gil Hermon,
Managing Partner with the fund from Blue Arch Advisors.